Ripple Expands Business in the UAE, Partners with Two New Clients to Use Ripple Payments

On May 19, 2025, Ripple announced a partnership with Zand Bank and Mamo in the UAE during an event in Dubai, where both companies will adopt Ripple's blockchain payment solutions for cross-border payments. Previously, Ripple became the first blockchain payment service provider to obtain a license from the Dubai Financial Services Authority (DFSA), further enhancing its payment capabilities in the region.

Zand Bank also plans to issue a stablecoin pegged to the UAE Dirham (AED), while Mamo is committed to providing more convenient global payment services for local businesses and consumers in the UAE. Ripple currently covers over 90 payment markets worldwide, handling a total transaction volume exceeding $70 billion, and holds more than 60 compliance licenses.